Question
On May 4, 2020, Bike Corporation loans $25,000 to an employee with an oral agreement for repayment of the $25,000 on January 31, 2021. How
On May 4, 2020, Bike Corporation loans $25,000 to an employee with an oral agreement for repayment of the $25,000 on January 31, 2021.
How does Bike Corporation report this $25,000 on the balance sheet at December 31, 2020?
Group of answer choices
Accounts receivable
Non-trade receivables
Current portion of notes receivable
Long-term notes receivable
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ISE Managerial Accounting For Manager
Authors: Eric Noreen, Peter C. Brewer, Ray H. Garrison
6th Edition
1265118434, 9781265118433
